KLP Kapitalforvaltning AS Increases Holdings in BorgWarner Inc. (NYSE:BWA)

Key Points

• KLP Kapitalforvaltning AS increased its stake in BorgWarner Inc. by 12.0%, acquiring an additional 8,100 shares in the first quarter, bringing its total holdings to 75,800 shares valued at approximately $2.17 million.
• BorgWarner received several upgrades from equity analysts, with The Goldman Sachs Group raising its rating from "neutral" to "buy" and setting a new price target of $34.00.
• The company reported a quarterly earnings per share of $1.11, exceeding analyst expectations, with total revenue of $3.52 billion for the quarter.

KLP Kapitalforvaltning AS lifted its position in shares of BorgWarner Inc. (NYSE:BWA - Free Report) by 12.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 75,800 shares of the auto parts company's stock after purchasing an additional 8,100 shares during the quarter. KLP Kapitalforvaltning AS's holdings in BorgWarner were worth $2,172,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Universal Beteiligungs und Servicegesellschaft mbH boosted its holdings in shares of BorgWarner by 18.3% in the 1st quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 345,550 shares of the auto parts company's stock worth $9,900,000 after acquiring an additional 53,448 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in shares of BorgWarner during the first quarter worth about $997,000. Teachers Retirement System of The State of Kentucky raised its stake in shares of BorgWarner by 7.0% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 716,269 shares of the auto parts company's stock valued at $20,520,000 after purchasing an additional 47,120 shares during the period. AMG National Trust Bank increased its position in shares of BorgWarner by 137.4% in the first quarter. AMG National Trust Bank now owns 50,246 shares of the auto parts company's stock valued at $1,440,000 after acquiring an additional 29,079 shares during the last quarter. Finally, Tectonic Advisors LLC increased its holdings in BorgWarner by 7.5% during the first quarter. Tectonic Advisors LLC now owns 16,614 shares of the auto parts company's stock worth $476,000 after buying an additional 1,157 shares during the last quarter. Institutional investors and hedge funds own 95.67% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on BWA. Barclays reiterated an "overweight" rating and set a $45.00 price objective (up from $42.00) on shares of BorgWarner in a research note on Wednesday, July 16th. Piper Sandler reissued an "overweight" rating and issued a $37.00 price target (up from $36.00) on shares of BorgWarner in a research note on Thursday, May 22nd. The Goldman Sachs Group upgraded shares of BorgWarner from a "neutral" rating to a "buy" rating and boosted their target price for the company from $31.00 to $34.00 in a research report on Thursday, April 10th. UBS Group upped their price objective on shares of BorgWarner from $35.00 to $38.00 and gave the stock a "neutral" rating in a report on Monday, July 14th. Finally, Wall Street Zen raised BorgWarner from a "buy" rating to a "strong-buy" rating in a research report on Saturday, July 12th. Six equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, BorgWarner presently has an average rating of "Moderate Buy" and a consensus target price of $39.07.

Insiders Place Their Bets

In other news, EVP Tonit M. Calaway sold 27,736 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of $32.83, for a total transaction of $910,572.88. Following the completion of the transaction, the executive vice president directly owned 214,521 shares in the company, valued at approximately $7,042,724.43. This represents a 11.45% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Isabelle Mckenzie sold 5,000 shares of the firm's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $33.25, for a total value of $166,250.00. Following the transaction, the vice president owned 63,445 shares of the company's stock, valued at approximately $2,109,546.25. This represents a 7.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.63% of the stock is owned by company insiders.

BorgWarner Stock Performance

BWA traded down $0.47 during trading on Tuesday, reaching $35.30. 298,713 shares of the company's stock were exchanged, compared to its average volume of 2,889,971. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.97 and a quick ratio of 1.60. The company's fifty day simple moving average is $34.01 and its 200-day simple moving average is $31.10. BorgWarner Inc. has a 1 year low of $24.40 and a 1 year high of $37.29. The stock has a market capitalization of $7.76 billion, a P/E ratio of 28.24, a price-to-earnings-growth ratio of 1.67 and a beta of 1.09.

BorgWarner (NYSE:BWA - Get Free Report) last posted its earnings results on Wednesday, May 7th. The auto parts company reported $1.11 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.13. BorgWarner had a net margin of 2.06% and a return on equity of 16.13%. The firm had revenue of $3.52 billion during the quarter, compared to analyst estimates of $3.39 billion. During the same period in the previous year, the firm earned $1.03 EPS. The business's quarterly revenue was down 2.2% on a year-over-year basis. As a group, research analysts predict that BorgWarner Inc. will post 4.28 earnings per share for the current fiscal year.

BorgWarner Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.25%. BorgWarner's dividend payout ratio (DPR) is presently 35.20%.

BorgWarner Profile

BorgWarner Inc, together with its subsidiaries, provides solutions for combustion, hybrid, and electric vehicles worldwide. It offers turbochargers, eBoosters, eTurbos, timing systems, emissions systems, thermal systems, gasoline ignition technology, smart remote actuators, powertrain sensors, cabin heaters, battery modules and systems, battery heaters, and battery charging.